The Central Bank of Russia has officially set the exchange rate of the Ethiopian birr against the Russian ruble, paving the way for direct trade and financial transactions between the two countries.
Delegates of Russia's Coordinating Committee for Economic Cooperation with African Countries (AFROCOM) have visited Ethiopia's Bole Lemi and Kilinto Industrial Parks, and discussed ways of strengthening the ties between the two friendly nations in the construction and running of industrial parks.
Russia, Ethiopia, and Djibouti have held a joint business forum via video conference themed "Russia-Ethiopia-Djibouti: Prospects for Business Development".
Russian and Ethiopian investors gathered in Moscow to explore collaborative opportunities and leverage investment prospects in Ethiopia. The forum, organized by the Ethiopian Ministry of Trade, facilitated dialogue between officials and investors from both countries.
Russian automakers are exploring the possibility of establishing an assembly plant in Ethiopia. In early April, representatives from renowned Russian car manufacturers Lada and GAZ Group expressed their interest in investing in the Dire-Dawa Free Trade Zone in Ethiopia. During their meeting with the leadership of the Ethiopian Industrial Parks Development Corporation, the representatives expressed their desire to manufacture various products and supply them to the Ethiopian market.
